Upcoming Dividends: Three Companies To Recommend Dividends Next Week, Record Dates Fixed

Three companies in diverse sectors like ceramics, IT and steel are set to declare dividends for the financial year FY24 in the trading week between October 16th to 20th along with their financial results for Q2FY24. These are Jindal Stainless, Kajaria Ceramics, and Sasken Technologies. Two of them have already fixed the record and payment dates for the upcoming dividends.

Among many corporate actions are dividend recommendations which are one of the benefits of holding a stock price. Dividends are distributed in a certain proportion by listed companies from their net profits earned in a respective financial year. The record date is proposed by the listed company's board of directors to determine the name of the eligible shareholders for dividends.

Furthermore, as per BSE FAQs, to be eligible to receive dividends, investors have to have shares in the Demat account by record date. Meanwhile, the ex-dividend date is the day when the price of the equity share of the listed company gets adjusted for the dividend payout.

Jindal Stainless Dividends:

The OP Jindal Group-backed company will announce its Q2 results on October 19. The company said the board of directors will also consider interim dividend for the financial year 2023-24.

The Interim Dividend, if declared, shall be paid to the equity shareholders whose names appear in the Register of Members of the Company or the records of the Depositories as beneficial owners of the equity shares as of Saturday, October 28, 2023, being the Record date fixed for this purpose.

On BSE, JSL shares ended at Rs 464.90 apiece on Friday, broadly flat compared to the previous day's closing. The steel stock's market value is over Rs 38,281 crore.

At the current share price of Rs 464.90, the stock's dividend yield is over 0.5%.

Earlier, in the current year, the stock turned ex-dividend for a final dividend of Rs 1.50 (75%) per share for FY23 in September followed by a special dividend of Rs 1 per share (50%) in April month.

Sasken Technologies Dividends:

As per the regulatory filing, the board of directors of the company will meet on October 20th to approve September 2023 quarterly earnings for FY24. The board will also consider an interim dividend for the current financial year.

It said, if the proposal for the Interim Dividend 2023-24 is approved by the Board at the said meeting, Tuesday, October 31, 2023, will be the Record Date to ascertain the list of shareholders who are eligible for the aforesaid Interim Dividend to be paid on or before Saturday, November 18, 2023.

On BSE, Sasken shares ended at Rs 1,336.35 apiece, broadly flat on Friday compared to the previous session.

In FY23, Sasken paid a total dividend of 250% to its shareholders amounting to Rs 25 per share.

On the current market price, the stock has a dividend yield of 1.87%.

Sasken is a pioneer in Product Engineering and Digital Transformation delivering concept-to-market and chip-to-cognition R&D solutions to customers across the semiconductor, automotive, industrial, consumer electronics, enterprise devices, satellite communications, telecom, and transportation domains.

Kajaria Ceramics Dividends:

The company will also announce its Q2 results on October 20. It has already indicated that the board of directors will consider declaration of Interim Dividend, if any, for the financial year 2023-24.

On BSE, Kajaria shares ended at Rs 1285.90 apiece, down by 1.3% on Friday. Its market cap is over Rs 20,479 crore.

Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India and the 7th largest in the world. It has an annual capacity of 81.55 mn. sq. meters presently, distributed across Seven plants - one at Sikandrabad in Uttar Pradesh, one at Gailpur, one at Malootana in Rajasthan, two at Morbi in Gujarat, one at Srikalahasti in Andhra Pradesh and one at Balanagar in Telangana.

During the financial year FY23, Kajaria paid a massive 900% dividend of Rs 9 per share to its shareholders.

At the current price level, the company has a dividend yield of 0.7%.